U.S. sales of previously occupied homes jumped in August to the highest level in more than two years, adding momentum to the housing recovery. Sales rose 7.8 percent to a seasonally adjusted annual rate of 4.82 million, the National Association of Realtors said.

Americans signed more contracts to buy previously occupied homes in May, matching the fastest pace in two years. The increase suggests home sales will rise this summer and the modest housing recovery will continue.